2 months ago
110
JSW Group has signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip in Odisha with an investment of ₹40,000 crore. The mega project, the first of its kind in the eastern state, is expected to create 11,000 jobs.
The project consists of a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter and related component manufacturing units.
JSW Group will set-up an EV & EV Battery Manufacturing Project at Naraj, Cuttack. The world-class advanced technology-based Battery Manufacturing project with capacity of 50 GWH “will be the world’s largest single location project in the sector,” a person familiar with the project said.
The company will also set-up an OEM Plant for Electric Vehicles and Components in the same integrated complex. Electric Vehicle & its Battery manufacturing Investment will be made in two phases. JSW is planning to invest ₹25,000 crore generating employment for more than 4,000 people.
The EV Components Manufacturing Complex will come up at the port township of Paradip. This complex will comprise of Copper Smelter along with Lithium Smelter in the third phase of its footprint in new-age sector.
In this phase, JSW is planning to invest ₹15,000 crore in the project at Paradip generating employment for more than 7,000 people.
Naveen Patnaik, chief minister, Odisha in a statement said, “Through our collaboration with JSW Group, we are setting the stage for a future where innovation drives our industrial growth, ensuring that the youth of Odisha have access to the skills and jobs that will define the next generation of economic development.”
Sajjan Jindal, Chairman, JSW Group in a statement said, “Our long-standing relationship with Odisha and its people forms the foundation of our new venture. This project is a milestone in our journey, reflecting our commitment to the state’s development and prosperity.
